Security Boulevard

MAY 12, 2022

Phishing attacks? What Is Not Covered Under Cyber Insurance? Cyber insurance will not cover the cost for security remediation, the purchase of new security technology, or any 3rd pen testing, auditing, or installation of any security products. Below is a list of adaptive controls needed for cyber insurance.

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Adam Levin

MARCH 16, 2020

That is exponentially more expensive than other cyber events. Consider that the average cost for a ransomware attack against a business is about $4,400, and your run of the mill phishing incident weighs in at a much less hefty $500. So Isn’t BEC Just Another Form of Phishing? BEC has a home In the pantheon of ishings.

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Scams Identity Theft Phishing Accountability 130

Digital Shadows

JANUARY 14, 2025

Educating users to prevent common phishing attacks and auditing external-facing assets for vulnerabilities can help block LockBits likely tactics. By mid-2024, Scattered Spiders hallmark tactics, including social engineering and SIM-swapping, were evident in RansomHubs double extortion attacks, cementing their collaboration.

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SecureWorld News

DECEMBER 7, 2022

Security experts have warned for years about the possibility of social engineering attacks with deepfakes, and the technology has matured enough for 2023 to see hackers successfully leverage it. Cyber insurance trends in 2023.

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Cybersecurity Cyber Insurance Insurance Social Engineering 98

Malwarebytes

FEBRUARY 3, 2023

The threat which was mentioned the most in responses to the survey was phishing. This is no surprise as phishing is often the prelude to more serious threats like ransomware, breaches, and BEC scams. Other worries were the rise in premium prices for cyber insurance, and the security implications of the rise in flexible working.

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Scams Banking Cyber Insurance Cybercrime 94

SecureWorld News

OCTOBER 20, 2021

In the past, we have experienced, and in the future, we may again experience, data security incidents resulting from unauthorized access to our and our service providers’ systems and unauthorized acquisition of our data and our clients’ data including: inadvertent disclosure, misconfiguration of systems, phishing ransomware or malware attacks.

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SecureWorld News

MAY 5, 2023

Our team has handled several ransomware attacks by the Royal threat actor group, and each of those started with a callback phishing attack that exploited people, first, to gain initial access into the network, so it would not surprise me if that is what happened in this attack on the City of Dallas, as well.

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Ransomware Cyber Risk Cyber Insurance Social Engineering 98

SecureWorld News

OCTOBER 19, 2023

Additionally, cybercriminals may be able to use inflation to their advantage, such as by sending phishing emails that appear to be from legitimate companies offering discounts or assistance. Organizations should educate their employees about cybersecurity best practices and how to identify and avoid phishing attacks.

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Thales Cloud Protection & Licensing

JULY 21, 2022

However, this stance indicates a lack of understanding of the effects of all the parties involved, such as cyber insurance underwriters, incident response firms, government regulations, and ransomware attribution. For many organizations, paying the ransom can be less damaging than risking any additional impacts.

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Cyber threats Energy and Utilities Ransomware IoT 71

SecureWorld News

APRIL 1, 2021

Furthermore, when an organisation has a cyber insurance policy, it might be able to claim the ransom back, which may encourage payment. That is an incredibly difficult situation to be put in, and one that is contributing to the problem.

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Ransomware Cyber Insurance Social Engineering Cybercrime 57

NetSpi Executives

APRIL 27, 2024

Ransomware, a definition Ransomware is a set of malware technologies, hacking techniques, and social engineering tactics that cybercriminals use to cause harm, breach data, and render data unusable. Ransomware attackers get into a network in many ways: Social engineering. Should I get a ransomware cyber insurance policy?

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Digital Shadows

OCTOBER 14, 2024

Together, they use native English speakers to execute sophisticated social engineering operations, contributing significantly to their newfound dominance. To counter these methods, organizations should prioritize educating users on phishing and social engineering techniques. compared to Q3 2023.

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Ransomware Social Engineering Insurance Cyber Insurance 94

Digital Shadows

NOVEMBER 26, 2024

Key Points Phishing incidents rose during the reporting period (August 1 to October 31, 2024), accounting for 46% of all customer incidents. This increase is likely driven by high employee turnover and easy access to phishing kits. Meanwhile, “RansomHub” is rising rapidly due to its attractive ransomware-as-a-service (RaaS) model.

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Cyber Attacks Phishing Ransomware Cyber Insurance 59

IT Security Guru

DECEMBER 5, 2022

Everyone in the cyber insurance industry or trying to get cyber insurance today knows that using multifactor authentication (MFA) is an absolute make-or-break requirement for getting a cyber insurance policy; or if you can get a policy without MFA, you will pay a hefty increased premium for the same amount of coverage.

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Duo's Security Blog

JUNE 21, 2021

According to Verizon’s most recent Data Breach Incident Report , instances of advanced ransomware have doubled in the past year, alongside major upticks in phishing attacks and social engineering. Don’t worry though, there's already an insurance policy for that. What is Cyber Liability Insurance?

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Digital Shadows

NOVEMBER 26, 2024

Key Points Phishing incidents rose during the reporting period (August 1 to October 31, 2024), accounting for 46% of all customer incidents. This increase is likely driven by high employee turnover and easy access to phishing kits. Meanwhile, “RansomHub” is rising rapidly due to its attractive ransomware-as-a-service (RaaS) model.

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Cyber Attacks Phishing Ransomware Cyber Insurance 52

BH Consulting

JUNE 13, 2023

Almost three-quarters of breaches (74 per cent) involve the human element through error, social engineering, stolen credentials or misusing privileges. Half of all social engineering attacks involve ‘pretexting’, where criminals fabricate a story to trick the victim.

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Jane Frankland

JANUARY 12, 2025

These groups are also shifting toward more human-centric exploits , like social engineering and insider assistance. An insider unknowingly clicking a phishing link or downloading a malicious file could leave the door wide open for attackers.

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